NEW YORK--(BUSINESS WIRE)--Shiseido Americas Corporation (“Shiseido Americas”), a subsidiary of
Shiseido Company, Limited (Tokyo Stock Exchange, First Section:4911), a
leading global cosmetics company, today announced it has acquired
Giaran, Inc. (“Giaran”), an award winning, data driven company with
leading technology in artificial intelligence (AI) platforms, to
transform the consumer experience and take personalized beauty to the
next level. Terms of the transaction were not disclosed.

Founded in 2016 as a spinoff from Northeastern University’s Synergetic
Media Learning Laboratory by scientist and world-renowned AI expert
Raymond Fu, Giaran is powered by AI technology, such as computer vision,
big data, and augmented reality, and creates novel algorithms of deep
learning, data mining, and predictive modeling. Current technology
within Giaran includes Makeup Virtual Try On, Tutorials, Color Matching,
Personalized Recommendations, Makeup Removal, Face Tracking, and Skin
Tone Detection. The technology can be used across mobile, tablet and
desktop as well as through a smart mirror powered by full HD augmented
reality.

Giaran will remain based in Boston, Massachusetts and will become part
of Shiseido’s Makeup Center of Excellence, where it will work closely
with Shiseido’s Global Digital Center of Excellence (based in New York)
and its global technology team in Tokyo, in order to enhance and support
the continued development of Giaran’s technology. The company will
operate in sync with and supplement MATCHCo, a beauty personalization
startup acquired by Shiseido Americas in early 2017, and the Americas
Innovation Center, Shiseido’s research and development facility based in
East Windsor, New Jersey. Giaran will leverage its simulation technology
across Shiseido’s portfolio and further expand Shiseido’s capabilities
in beauty customization, all with the goal of driving consumer
engagement and providing an unmatched consumer experience.

Masahiko Uotani, President and Group CEO of Shiseido Company, Limited,
said, “Since our founding in 1872, Shiseido has been dedicated to
remaining at the forefront of Beauty. Through Giaran’s leading AI
technology and our global innovation network, we’re continuing our
journey of transforming how people discover and fall in love with
products, creating deeply personal connections between our brands and
consumers, and building a path to growth with consumers at the center.”

Marc Rey, President & CEO of Shiseido Americas, said, “Raymond and the
Giaran team have created truly novel AI technologies for cosmetic
applications, and we are thrilled to welcome them to the Shiseido
family. Building on our acquisition of MATCHCo earlier this year, Giaran
will provide Shiseido with immediate expertise and advanced technologies
to further expand our digital capabilities, while also allowing for
greater consumer intimacy through personalized offerings and enhanced
user experiences. We share Giaran’s philosophy that digital is a mindset
rather than a tool, and we look forward to bringing more disruptive
innovation to reinvent the beauty industry business model.”

Raymond Fu, Founder and President of Giaran, Inc., and a professor at
Northeastern University, said, “This is an extremely exciting move for
Giaran at a pivotal moment in Beauty. Shiseido shares our belief that in
today’s fast-changing market, continuous evolution of product and
consumer-centric innovation are key to deepening relationships with
consumers and finding new fans. Incubated from an excellent research
laboratory at Northeastern University, Giaran has great respect and
admiration for Shiseido’s long-held commitment to science and
innovation. We are very pleased to be joining such a passionate,
talented and creative group of people to shape Shiseido's technological
revolution and the future of Beauty.”

About Shiseido Americas

Shiseido Americas Corporation is a subsidiary of Tokyo-based Shiseido
Company, Limited (TSE:4911), a leading global beauty company. Shiseido
Americas’ portfolio of prestige beauty brands includes Shiseido, NARS,
Clé de Peau Beauté, bareMinerals, Laura Mercier and several prestige
fragrance brands including Issey Miyake, Narciso Rodriguez and Dolce &
Gabbana. Shiseido Americas is headquartered in New York City and employs
more than 5,000 individuals in the United States, Canada, and throughout
Latin America. In early 2017, Shiseido Americas acquired MATCHCo, a
technology company and JWALK, a creative agency.

About Raymond Fu

Raymond Fu received a Ph.D. degree in Electrical and Computer
Engineering from the University of Illinois at Urbana-Champaign. He is a
successful serial entrepreneur and tenured professor of Northeastern
University at Boston, affiliated with both College of Engineering and
College of Computer and Information Science. He is a Fellow of the
International Association for Pattern Recognition, Member of ACM Future
of Computing Academy, and has published over 300 publications with
citation over 7500 times. He is recipient of numerous international
awards and honors, including 9 best paper awards and 9 prestigious young
investigator and early career awards from international societies,
national academy, and major government agencies, for his outstanding
record of academic and industrial achievements, and long-term
high-impact contributions to the fields of pattern recognition, data
mining, machine learning and visual intelligence.